Obama said that the order which was processed during the Bush administration will be finalized on Monday.
"If we want to be a global leader in combating HIV/AID, we have to act like it,"he said adding that lifting the ban would take US a step closer to removing the stigma against HIV/AIDS.
The President made the announcement while signing the Ryan White HIV/AIDS program, under which US provides medical care, medication services and support to almost 1 million people,mostly lower income group.
Us is among the 11 other countries that imposes ban on HIV travelers and Immigration including Bruni, Armenia,Libya, Iraq, Moldova, Oman, Qatar, Russia, Saudi Arabia, South Korea and Sudan.
There are over 1 million HIV/Aids patients in US. Almost 56,000 infected cases are reported every year.
More than 1 million people live with HIV/AIDS in the U.S., and more than 56,000 new infections are reported every year.
Obama had earlier made a speech on HIV/AIDs during the Global Summit on AIDS and the Church on World AIDS Day, 2006.